Netflix announced Tuesday it will air WWE Raw starting next year.

The deal, per CNBC, is valued at more than $5 billion over 10 years. Netflix has the option to opt out after the initial five years and to extend for an additional 10 years, according to Variety. WWE’s current five-year deal for “Raw” with NBCUniversal is worth approximately $250 million-$260 million per year.

The move marks the first time in its three-decade history that “Raw” has not aired new episodes on a traditional television network.

“We are excited to have WWE Raw, with its huge and passionate multigenerational fan base, on Netflix,” Netflix chief content officer Bela Bajaria said, per Variety. “By combining our reach, recommendations and fandom with WWE, we’ll be able to deliver more joy and value for their audiences and our members. Raw is the best of sports entertainment, blending great characters and storytelling with live action 52 weeks a year and we’re thrilled to be in this long-term partnership with WWE.”

Mark Heim is a reporter for The Alabama Media Group. Follow him on Twitter @Mark_Heim. He can be heard on “The Opening Kickoff” on WNSP-FM 105.5 FM in Mobile or on the free Sound of Mobile App from 6 to 9 a.m. daily.